Helping You Build Wealth With Honest Research
Since 1996. Read On...

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Revealed
India's Third Giant Leap

This Could be One of the Biggest Opportunities for Investors




Important: We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
By submitting your email address, you also sign up for Profit Hunter, a daily newsletter from Equitymaster
covering exciting investing ideas and opportunities in India.

AD

Metal stocks pull markets down
Wed, 20 Oct 09:30 am

The Indian markets have started today's session on a negative note. The benchmark indices opened below the breakeven mark and have remained in the red since then. Other key Asian markets are trading in the red with Hong Kong (down 1.2%) being the main loser. The US markets closed in the red and were down by 1.5% yesterday. Currently in India, heavyweights from the BSE-Sensex are trading in the red with IT and metal stocks being the main losers. However, auto stocks are in the green. The BSE-Sensex is trading lower by around 50 points, while the NSE-Nifty is down by about 15 points. The mid and small cap stocks are witnessing negligible activity with the BSE-Midcap and BSE-Smallcap indices remaining flat. The rupee is trading at 44.47 to the US dollar.

Auto stocks have opened the day on a positive note. Gainers here include Hero Honda and Maruti Suzuki. As per a leading business daily, three US led private equity firms are in talks to acquire an 18% stake in the Her Honda. This is being considered to provide a way for Japan based Honda to completely exit the joint venture. According to the discussions, this exit would be done in two ways with Hero buying out Honda’s stake in the first phase. In the second phase, the PE firms will buy an indirect stake in the company of up to 18%. The technology support agreement between Hero and Honda is going to expire in 2014. However, there are talks that this may get extended for some time.

IT stocks have opened the day on a mixed note with TCS, Infosys and Wipro leading the gains. HCL Tech is among the key losers. The company announced its 1QFY11 results (June ending fiscal) earlier this morning. During the quarter, its consolidated revenues in rupee terms grew by 10% QoQ. However, its net profits declined by 2% QoQ mainly on account of the foreign exchange losses during the quarter. The company added 5,000 employees in its IT services segment during the quarter. It has declared an interim dividend of Rs 1.50 per share.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Metal stocks pull markets down". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited).

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited) (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited) (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.